Arete Wealth Advisors LLC Sells 9,904 Shares of Devon Energy Co. (NYSE:DVN)

Arete Wealth Advisors LLC lowered its stake in shares of Devon Energy Co. (NYSE:DVN) by 50.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,599 shares of the energy company’s stock after selling 9,904 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Devon Energy were worth $375,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. William B. Walkup & Associates Inc. bought a new position in Devon Energy during the second quarter valued at about $1,026,000. Legacy Investment Solutions LLC bought a new position in Devon Energy during the third quarter valued at about $8,002,000. Bridgewater Associates LP bought a new position in Devon Energy during the third quarter valued at about $9,426,000. Petrus Trust Company LTA grew its position in Devon Energy by 394.7% during the third quarter. Petrus Trust Company LTA now owns 21,827 shares of the energy company’s stock valued at $854,000 after buying an additional 17,415 shares during the period. Finally, CIBC Asset Management Inc grew its position in Devon Energy by 6.3% during the third quarter. CIBC Asset Management Inc now owns 107,182 shares of the energy company’s stock valued at $4,193,000 after buying an additional 6,358 shares during the period. Institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Down 0.1 %

DVN stock opened at $33.86 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The company’s 50 day moving average is $38.75 and its 200 day moving average is $42.62. The stock has a market cap of $22.24 billion, a price-to-earnings ratio of 6.28, a price-to-earnings-growth ratio of 1.10 and a beta of 1.99. Devon Energy Co. has a 1-year low of $33.39 and a 1-year high of $55.09.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.01. The company had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. Devon Energy’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.65 earnings per share. Sell-side analysts predict that Devon Energy Co. will post 4.79 EPS for the current fiscal year.

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Friday, December 13th. Devon Energy’s dividend payout ratio (DPR) is 16.33%.

Analyst Ratings Changes

Several research firms recently weighed in on DVN. Morgan Stanley reduced their price target on shares of Devon Energy from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Mizuho dropped their price objective on shares of Devon Energy from $53.00 to $51.00 and set an “outperform” rating on the stock in a report on Wednesday, October 9th. Evercore ISI dropped their price objective on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating on the stock in a report on Monday, September 30th. Jefferies Financial Group initiated coverage on shares of Devon Energy in a report on Thursday, October 3rd. They set a “hold” rating and a $45.00 price objective on the stock. Finally, Raymond James dropped their price objective on shares of Devon Energy from $58.00 to $51.00 in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $50.75.

Devon Energy Profile

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.